Dear All,

I need to clear old used machinery to a sister unit. Totally five machines need to shifted, the first machine is one on which CENVAT credit has been taken and the other are those on which no CENVAT credit had been taken earlier but but parts on which CENVAT credit had been taken were used to repair the machines and replace spoiled parts over the years.
In case of the first machine CENVAT credit has to be reversed after providing for reduction @ 2.5% per quarter u/r 3(5), but the question is how to i show the value of the machinery, should it be a valued arrived at by dividing the reversal amount by 12% i.e propotionate value or should the same value as shown on the purchase invoice or bill of entry be shown?
And how should the other four machines be valued?
As my invoicing software does not allow me to write additional notes on the invoice is it sufficient to make a stamp of the phrase "Capital goods removed as such u/r 3(5) of the CENVAT credit rules 2004 after being used" or is it necessary that this phrase must be printed only on the invoice?

EXCISE ER-1 RETURN PROVISION AVAILABLE OR NOT IN CASE OF MARCH CASE? I HAVE RECEIVED PURCHASE BILL IN 30 APRIL 2012 CAN TAKE CREDIT NEXT RETURN OT NOT ?

PLEASE HELP

One of my client who is manufacture of s s Utensils whose turnover reached around 1.37 crs till now & its increasing in coming month.is dere any way by which this excise duty can be saved ??.as client do not want to go for excise his opinion is that if he go for excise he has to pay 12.36% excise & due to competition in market its difficult to charge such burden on customer & that would ended with loosing of customer.so please help on this issue.

I am very much confused about following question,plz try following A company manufactured 12000 coloured TV during the year. Determine excise duty payable from the following particular: I) Retail price of TV Rs 5,000. It includes excise duty. II)Sold 8,000 TV to wholesaler.Discount allowed @ 20% on retail price. iii)TV sold in retail for Rs 2,000 iv)The balance 2,000 Tv not recovered from factory v)The company purchased input for manufacture of TV For Rs 3,00,00,000 It include basic excise duty Rs40,00,000 vi)The closing stock of input is Rs25,00,000 vii)The company is liable to pay basic excise duty @ 16% viii)The rate of abatement allowed is @ 35% of selling price.

Hello sir,
I want to ask that when excsiable goods remove to self company store and the store is sales the goods to companies,whole seller and direct to a customer, than i ask who is lible to pay the duty, factory or factory store if store, why

Thanks and regards

Surender Kaushik
Accountant
9991863917

Dear Experts

Is we need to show, S.No. in Tariff Notification in second sheet of ER-1 under the head Duty payable for clearance,
if yes please provide notification no we are paying duty under tariff heading 84749000 @ 12.36% & what is notification no for Sales under LUT(exports)

Please help

Dear Experts

when we import we are taking CVD and SAD as Cenvat.

For Manufacturer when we take CENVAT benifit, we are adjusting above two heads as normal purchase CENVAT amount agst duty payable.

Please clarify whether we have to show CVD & SAD in our sales bill saperatly or normal rate 12%

Department of excise had conducted raid on the office and factory premises of my client in 2000-01 and after that passed the order in 2006 for duty evasion of rs. 137 crores and equal amt. of penalty i.e. rs. 137 crores u/s 11AC. my client had taken stay order(2nd stay order) from cestat in april 2007 against the order of comm. for non payment of duty and penalty.final hearing of the said case was scheduled on 5/11/2012 and after the hearing the next date of hearing given by cestat is 31/1/2013.
for the said case commissioner of CE had filed prosecution case in the court of cjm custom,xxx on against the company, MD and other senior management personnel for which my client has taken stay order from the high court in march 2010. the case for vacation of stay are scheduled for final hearing on 6/11/12. for which my client taken next date for hearing which will be scheduled on 22/11/12.
Now my query is that what are the remedies we have from which my client has been saved from the prosecution.
plz reply
thanks in advance

We are traders (not manufacturers) in cutting tools and import the same by paying customs duty + cvd + SAD. We want to pass on CVD to the buyers. What is procedure for passing on the CVD and how it should be reflected in the Excise invoice (we are already registered under Excise)?

Dear Experts

we have registered as manufacturer under tariff heading 84749000(Machinery Parts).

When we sell scrap(iron & Steel) is we need to show separate traiff heading 7204100.
under ER-1 for Qty cleared.

We have sold 5 to 6times but ER-1 is filed under tariff 84749000 ie scrap is added in total sales.

please advice.